Trump Expands Trade Threats in Global Game of Chicken
Trade wars with allies could spiral as the president tries to get trading partners to back down from retaliation with new threats of his own.
It Is Happening Every Day, Every Where
Trade wars with allies could spiral as the president tries to get trading partners to back down from retaliation with new threats of his own.
Industry representatives warned that a 200 percent tax on European wines and spirits would halt shipments to the United States and wipe €4 billion off France’s trade balance.
The president said he would impose the levies if the European Union does not walk back plans to place retaliatory tariffs on whiskey and other U.S. products.
The president offers many reasons for imposing tariffs, including revenue, leverage over competitors and job creation. But history suggests a more complex history.
In a meeting with Ireland’s prime minister, President Trump gave no hint of backing down from actions that have caused fissures in the trans-Atlantic alliance.
Economists are bracing for intensifying price pressures and slower growth, posing a challenge for the Federal Reserve.
President Trump imposed a 25 percent tariff on metal imports. The move is expected to raise costs for U.S. manufacturers of cars, solar panels and other products, potentially slowing the economy.
House G.O.P. leaders tucked the provision into a procedural measure needed to pass a government spending bill.
On Tuesday, President Trump sent markets into another tailspin by announcing additional tariffs on Canada, suggesting a falling stock market is no longer the bulwark investors had hoped.
The country’s trade minister stressed its role as a top investor and employer in the United States in a bid to avoid being hit by new levies on metals and cars.